Tag Archive

If your loan servicer makes a mistake calculating the proper payment for your income-driven repayment plan it can be extremely frustrating and scary. Today we will discuss what can cause this error and how to get fixed. We will start by looking at a recent reader email from Jake who …

One of the major perks of having federal student loans is that there are several repayment plans based upon what you can afford to pay rather than what you owe. Borrowers on these income-driven repayment plans have student loan bills based upon their discretionary income. One of our readers, Daphne, …

The week we received an email from Steve with an interesting tax question. Steve is about to be the lucky recipient of a bunch of money from his family. He intends to use this money to pay down his student loans. Unfortunately, this can potentially trigger a gift tax bill …

In today’s mailbag we will take a look at Katie’s student debt problem. Katie co-signed some student loans for her daughter to attend college. The loans were originally with Sallie Mae, went to Navient, and now Katie is being told that the loans will not qualify for Public Service Loan …

In today’s mailbag we will dig deep into Sally’s student loan issues. Sally borrowed a ton of money to attend a for-profit college and doesn’t really see a light at the end of the tunnel. If you have a question for the Sherpa, feel free to ask us! This particular …

In today’s mailbag we will take a look at Natalie’s student debt issues. Natalie took out a massive amount of student loans to fund her education as a Physical Therapist. She might be able to afford the standard repayment plan, and fears that if she banks on loan forgiveness, she …

We must be approaching wedding season. Lately we have received a bunch of emails from readers concerned about how getting married would affect their student loan situation. Today we will be looking at Jane’s situation. Jane has large private and federal student loan balances and wants to figure out how …

Today’s mailbag question comes from Steve who is struggling to pay off his wife’s student loans. She is a stay at home mom, and he wants to know what options they have regarding her student loan debt. If you have a question for the Sherpa, feel free to ask us! Steve writes: …

Today’s mailbag question comes from Laura who is having problems getting approved for student loan consolidation. She is curious about the repayment length selected and how it could impact her chances for approval. If you have a question for the Sherpa, feel free to ask us! Laura writes: Hi, I am …

Today’s mailbag question comes from Randy who received a great bonus last year from his employer, but is concerned that last years tax return doesn’t reflect his ability to pay. He fears his Income-Based Repayment calculation will leave him with payments he cannot afford. If you have a question for …

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Meet the Sherpa

Michael Lux is the founder of the Student Loan Sherpa. He is an Indiana attorney who knows first hand how frustrating it is to deal with student loan servicers and massive bills. He created the site to help other student loan borrowers navigate the complicated world of student loans.

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